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INCOME TAXES (Tables)

12 Months Ended

Jun. 30, 2024

Income Tax Disclosure [Abstract]

Schedule of Income before Income Taxes, Domestic and Foreign

The components of income before income taxes were as follows:

			Year Ended June 30,
(In thousands)			2024						2023						2022
Domestic income before income taxes			$	1,997,090					$	2,017,338					$	1,909,699
Foreign income before income taxes			1,192,942						1,771,852						1,579,538
Total income before income taxes			$	3,190,032					$	3,789,190					$	3,489,237

Schedule of Components of Income Tax Expense (Benefit)

The provision for income taxes was comprised of the following:

(In thousands)			Year Ended June 30,
			2024						2023						2022
Current:
Federal			$	395,876					$	553,197					$	341,614
State			10,737						14,804						14,149
Foreign			160,401						188,991						165,194
			567,014						756,992						520,957
Deferred:
Federal			(110,686)						(228,414)						11,564
State			(2,770)						(4,295)						(311)
Foreign			(25,422)						(122,444)						(365,033)
			(138,878)						(355,153)						(353,780)
Provision for income taxes			$	428,136					$	401,839					$	167,177

Schedule of Deferred Tax Assets and Liabilities

The significant components of deferred income tax assets and liabilities were as follows:

(In thousands)			As of June 30,
			2024						2023
Deferred tax assets:
Capitalized R&D expenses			$	328,061					$	201,228
Tax credits and net operating losses			311,026						271,500
Depreciation and amortization			151,371						73,691
Inventory reserves			121,238						103,646
Employee benefits accrual			95,461						92,696
Non-deductible reserves			53,668						52,147
Unearned revenue			25,532						16,668
SBC			15,375						12,710
Other			12,785						35,360
Gross deferred tax assets			1,114,517						859,646
Valuation allowance			(289,534)						(259,172)
Net deferred tax assets			$	824,983					$	600,474
Deferred tax liabilities:
Unremitted earnings of foreign subsidiaries not indefinitely reinvested			$	(315,231)					$	(279,677)
Deferred profit			(70,204)						(23,149)
Unrealized gain on investments			(10,949)						(9,994)
Total deferred tax liabilities			(396,384)						(312,820)
Total net deferred tax assets			$	428,599					$	287,654

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation of the U.S. federal statutory income tax rate to our effective income tax rate was as follows:

			Year ended June 30,
			2024						2023						2022
Federal statutory rate			21.0		%				21.0		%				21.0		%
GILTI			3.7		%				3.4		%				2.0		%
Goodwill impairment			1.7		%				—		%				—		%
Net change in tax reserves			1.1		%				—		%				2.0		%
State income taxes, net of federal benefit			0.3		%				0.2		%				0.3		%
Restructuring			—		%				—		%				(11.2)		%
Effect of SBC			—		%				0.1		%				(0.2)		%
R&D tax credit			(1.6)		%				(1.5)		%				(1.1)		%
Foreign derived intangible income			(5.9)		%				(5.7)		%				(4.0)		%
Effect of foreign operations taxed at various rates			(6.6)		%				(7.1)		%				(4.2)		%
Other			(0.3)		%				0.2		%				0.2		%
Effective income tax rate			13.4		%				10.6		%				4.8		%

Schedule of Income Tax Contingencies

A reconciliation of gross unrecognized tax benefits was as follows:

			Year Ended June 30,
(In thousands)			2024						2023						2022
Unrecognized tax benefits at the beginning of the year			$	213,092					$	217,927					$	149,642
Increases for tax positions taken in current year			40,209						44,590						49,311
Increases for tax positions taken in prior years			23,291						434						20,917
Decreases for settlements with taxing authorities			—						(45,042)						—
Decreases for tax positions taken in prior years			(26,766)						(3,929)						(267)
Decreases for lapsing of statutes of limitations			(4,119)						(888)						(1,676)
Unrecognized tax benefits at the end of the year			$	245,707					$	213,092					$	217,927

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